Roland Berger, the German consultancy firm, intends to reject a takeover offer from Ernst & Young (EY). This was stated by the online site of the 'Financial Times', indicating that the company will vote on Wednesday to remain independent after management concluded that its 250 partners want to reject a possible proposal from EY.
"A formal offer would surely have to be rejected," sources close to the dossier told 'FT', while Roland Berger and EY declined to comment. Roland Berger said no to a proposed purchase of Deloitte in 2010, but last May the partners asked the executive committee to evaluate "external options" for the company's future, including strategic alliances and collaboration agreements. In addition to EY, both Deloitte and Pwc have been cited as possible buyers.
Separately, the site adds that partners at another consultancy firm, Booz & Co, are "evaluating" an offer from Pwc. A result is expected by the end of the year. Pwc's offer for Booz, the site adds, would worry Roland Berger's partners, who fear being swallowed by a larger group as would happen in an operation with EY.
